power of attorney to sell property in delhi

India Property Registration: A to Z Guide for Homebuyers

October 9, 2024/in Blog /by legal-web-admin

Congratulations on finding your dream home! The time has come for you to officially own it. Property registration is a crucial step in transferring ownership, ensuring your security and legal rights. In this blog, we’ll break down the details, documents, process, and charges involved in property registration in India.

Why Register Your Property?

Registration:

Establishes ownership and transfer of title
Provides legal proof of ownership
Ensures transparency and authenticity
Protects against disputes and fraud
Facilitates smooth resale or inheritance

Documents Required

Gather these essential documents:

Sale Deed: Document transferring ownership from seller to buyer.
No-Objection Certificate (NOC): From relevant authorities (e.g., housing society).
Property Card: Details property location, size, and boundaries.
ID and Address Proofs: PAN card, Aadhaar card, passport, utility bills.
Passport-Sized Photographs: Of buyer and seller.
Payment Receipts: Proof of payment for stamp duty and registration fees.

Property Registration Process

Follow these steps:

Prepare Documents: Make sure all documents are in order.
Calculate Stamp Duty and Fees: Determine charges based on property value.
Visit Sub-Registrar Office: Submit documents and application.
Verification: Officer verifies documents and property details.
Registration: Sign documents, and receive registered deed.

Charges and Fees

Understand the costs involved:

Stamp Duty: 5-10% of property value (varies by state).
Registration Fees: 1-2% of property value.
Miscellaneous Charges: Document scanning, affidavit, etc.

Timeline and Validity

Registration typically takes 15-30 days.
Registered deed is valid indefinitely.

Tips and Reminders

Consult experts (lawyers, real estate agents).
Verify documents carefully.
Ensure timely payment of charges.
Keep registered documents safe.

Property registration in India may seem complex, but understanding the process and requirements makes it manageable. Secure your dream home by following these steps and ensuring a smooth transfer of ownership.

By registering your property, you’re not only fulfilling legal requirements but also safeguarding your investment and peace of mind.

Additional Resources

check land registration online | property registration in delhi | Top Lawyers For Property Case in Delhi

For state-specific guidance:

Visit your state’s registration department website.
Consult local real estate experts.

Stay informed, stay secure!

Can You Gift Property to Someone Who Isn’t Born Yet? Understanding Section 13 of the Transfer of Property Act

September 17, 2024/in Blog /by legal-web-admin

Have you ever wondered if it’s possible to leave property to a future grandchild or great-grandchild who hasn’t been born yet? It might sound strange, but in some cases, it’s actually possible! This is where Section 13 of the Transfer of Property Act comes into play. Let’s break it down in simple terms.

First, what does “transfer of property” mean? It’s when someone gives their property (like land, a house, or money) to someone else. Usually, this happens between people who are alive. But sometimes, people want to make sure their property goes to future family members, even if those family members aren’t born yet.

Section 13 of the Transfer of Property Act allows for something called a “transfer for the benefit of an unborn person.” This means that you can set aside property for someone who isn’t born yet, but there are some rules to follow.

Here’s how it works:

You can’t directly give property to an unborn person. Instead, you have to give it to someone who’s already alive (let’s call them the “caretaker”) to hold onto until the unborn person is born and grows up.
The unborn person must be born by the time the transfer is supposed to happen. For example, if you want to give property to your future grandchild when they turn 18, they need to be born within 18 years of when you set up the transfer.
The property can’t be kept waiting forever. There’s a rule called the “rule against perpetuity” which says that the transfer must happen within 18 years of a life that’s already in existence when the transfer is set up.
Until the unborn person is born and can take the property, the caretaker looks after it. They might collect rent if it’s a house, or invest the money if it’s cash.
Once the unborn person is born and reaches the age you specified, they get the property.

This law is helpful for people who want to plan for future generations. For example, a grandparent might want to make sure their great-grandchildren have money for college, even if those great-grandchildren aren’t born yet.

But it’s not simple to do. There are lots of legal rules to follow, and it’s easy to make mistakes. That’s why it’s important to talk to a lawyer if you’re thinking about doing something like this.

In the end, Section 13 of the Transfer of Property Act is a way for people to look out for future family members. It’s a bit complicated, but it shows how the law tries to balance the wishes of people today with the rights of people who aren’t born yet.

So, next time someone says you can’t plan for the future, you can tell them about this interesting law that lets people do just that – even for people who aren’t born yet!

Procedure of Legal Transfer of Ownership Title of Property

January 25, 2022/in Blog /by legal-web-admin

The title of a property depicts the ownership rights of a person. When there is a transfer of property from the original owner to another person, the ownership changes and therefore, the title of the property needs to be changed. The new owner’s name needs to be substituted for the previous owner in the records of the government.

With the transfer of property, bundle of rights are also transferred. The new owner gets all the entitlements and benefits in respect of the property including the right to sell, mortgage, lien, gift, etc. Therefore, for ensuring valid and legal transfer, it is most necessary to adhere to various rules in law for the transfer of property title.

In India, the legal transfer of property title is surrounded by difficulties, requires proper legal document drafting, execution & registration and payment of requisite government duty to the concerned authorities.

Therefore, to avoid legal battles in the procedure to complete transfer of property title as per law, it is always advisable to take assistance of top property legal experts or top law firms’ services.

Ways of transfer of Property

There are several ways in which the Transfer of property takes place. It is vital to know first how a person acquires the title in order to decide the right way of transfer of property title. A property can be acquired/ obtained by a person in many ways, a few of which are:

Inheritance
Will
Gift
Sale deed
Any other kind of transfer

Inheritance:

Inheritance means when the owner of a property dies, the property devolves upon all the legal heirs of the deceased by way of law of succession.

In such situations, it becomes necessary for the legal heirs upon whom the property devolves to apply to the concerned department/authority and get the property title transferred/ updated in their names in the records of the department. This is the legal transfer of property title.

Even when there are more than one legal heir who inherits the title, it is permissible under law for one or more legal heir to release/ relinquish/ give up their share inherited in the property in favour of all/ any other legal heir, wherein for the purpose of transfer of their property title, proper transfer deed need to be executed and registered and the name will then be accordingly updated in the records of the concerned department.

Will:

In cases, where the deceased dies leaving behind a WILL bequeathing a property in favour of the beneficiary named in the WILL, the ownership of the property devolves upon the beneficiary named in the WILL after the death of deceased. A WILL may be registered or unregistered under the law. However, it is advisable to get the WILL probated from the Court of law, which grants a certificate with respect to the genuineness of the WILL and grants more legality to the WILL and thereupon easier to get the title of the property transferred/ updated in the records of the concerned department/ authority.

Transfer Deed:

When the property is acquired by a person vide a transfer deed such as sale deed, gift deed, etc., the title of the property get transferred in the name of the person purchasing the property upon the registration of such transfer deed by payment of proper government duty/ fees. The deeds are registered in the office of Sub-Registrars.

Whenever there is a legal transfer of title of a property, it is necessary that the fact of change in ownership must be recorded in the public records.

LEGAL ASSIST is a premier global legal management firm and India’s leading legal firm in the field of Property Matters, Inheritance and Succession. The vast experienced team of Legal Assist steps forward to provide a range of services to resolve property issues related to the following – Title Search, Transfer of Property, Property Documentation and Registration, Probate of WILL, Succession Certificate, Surviving Member Certificate, Freehold Conversion, Mutation, Estate Planning. Besides these, we can help you find solutions to any dispute related to property. Feel free to reach us any time!

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